LAQCLoss Attributing Qualifying Company
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A loss attributing qualifying company (LAQC) is a closely held company with five or fewer unassociated shareholders, satisfying certain requirements (see Greenheld, 1998).
The ability to use loss-attributing qualifying companies (LAQCs) for tax planning should be reduced, preferably by removing the underlying cause for using them as avoidance vehicles (absence of capital gains tax, concessions.
The so-called loss-attributing qualifying companies (LAQCs) are not allowed to carry losses forward, but must pass on the loss immediately to their shareholders, who can then deduct these losses against other taxable income.